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Ameriseur Production Soaring And Prices Rising

Amerisur AMER increased production significantly to 4475 BOPD in the half year to the 30th June. compared to 2016’s 2641 barrels. At the same time the average realised sale price rose from $38.4 per barrel to $47.3. These two factors resulted in revenue for the half year rising by more than 57% with the Platanillo field alone having producing 8MMBO so far this year. Average production by the end of the year is expected to have reach 7,000 barrels of oil per day compared to the present rate of 6,000 barrels. By the end of 2018, 16 wells are expected to be operational, all of them fully funded from cash resources and operational cash flow.

M&C Saatchi SAA enjoyed strong revenue momentum and earnings growth in the 6 months to the 30th June and interim dividend is to be increased by 15%. The UK as so often is the case, was the geographical laggard with only 5% like for like growth compared to 15% in Europe and 14% in the USA. Profit before tax and like for like revenue, both rose by 17% and earnings per share by 11%. The second half is said to have started well.

Elecosoft plc ELCO Saw profit before tax  rise by 81% in the 6 months to the 30th June and shareholders are rewarded with a 30% proposed increase in the interim dividend. On a constant currency basis the rise in profits came to 68%. Revenue for the half year rose by 14%, basic earnings per share by 83% and EBITDA by 66%. Growth was experienced in all of the company’s geographical regions.

Osirium Technologies plc OSI which came to aim in 2016, has produced strong progress in sales momentum in the six months to the end of June with invoiced sales rising by 393% and revenue up by 59%. High profile data breaches and new regulations which are due t come into force in 2018 have attracted new customers and ensured the renewal of existing contract. Profitability has not yet been achieved because of high investment in sales and marketing and operating losses for the half year more than doubled but the company is pleased with its  operational and financial progress which has resulted in it being declared a “cool vendor” by Gartner.

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Sainsbury Clams Up On Food Sales

Sainsbury (J) plc SBRY Like for like group retail sales at Sainsbury fell by 0.5% in the 9 weeks to the 11th March but very, very strangely it tries to get away with keeping its food sales secret.  Argos did very well with a like for like rise of 4.3% and TU clothing did even better with a market beating rise of 5% but combined like for like sales rose by only 0.3%. So what kept the combined rise so small. Why do food sales not get a mention ? What else is left to account for the overall retail decline but food. Hands up please all those who can remember one of the countries leading supermarkets failing to provide in a trading update, figures for its food sales. It does not take an Einstein to work out that if clothing is up 5% and Argos is up by 4.3%, something must have kept that combined rise so low and also caused the decline at Sainsbury itself.  Why has Sainsbury suddenly gone all shy about food sales.

It claims food sales were solid but it then goes on for paragraph after boring paragraph, explaining its customer philosophy in what is supposed to be a trading update. If food sales were all that solid, one would have expected the details to support the claim, other than news of the introduction of butternut squash waffles and sweet potato tagliatelle. 

M&C Saatchi SAA had an outstanding year in 2016 producing both record revenue and earnings. Revenue rose by 19% or 9% on a like for like basis, earnings per share were up by 21.07% and profit before tax by 18%.  The final dividend is to be increased by 15% and a good start has been made to 2017

Balfour Beatty BBY Claims that its return to profit after two years of losses, is proof that its transformation is well under way. The order book is up by 4% at constant exchange rates and a final dividend of 1.8p per share is to be paid, making a total of 2.7p for the full year. Due acknowledgement is given to the part played in the recovery, by the weakness of sterling.

FW Thorpe TFW had such an exceptionally buoyant first half that it resulted in the “imposition” of high levels of overtime and shift working at its largest subsidiary Thorlux Lighting, which in turn led to higher overheads. Revenue for the six months to the end of December rose by 23.8%, basic earnings per share by by 20.3% and profit before tax by 18%. The interim dividend is increased by 12.5% to 1.35p per share.

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